Canadian wheat stocks were at an eight-year high at the end of the 2025-26 marketing year, as record production more than offset stronger deliveries and record exports.
Statistics Canada on Wednesday pegged total wheat stocks as of July 31 – ending stocks for the 2025-25 crop year - at 6.649 million tonnes, up 56.8% from a year earlier and the highest ending stocks since 2017-18 at 6.732 million.
Stocks of wheat (excl durum) rose 48.8% to 5.547 million tonnes, while durum stocks more than doubled, rising 115.2% to 1.102 million.
The StatsCan stocks figure also came in above Agriculture Canada’s August supply-demand projection, which had pegged 2025-26 all wheat ending stocks at 5.874 million tonnes. Ag Canada had durum stocks considerably lower, at 642,000.
Commercial all wheat stocks jumped 72.5% to about 4.1 million tonnes, while on-farm stocks increased 36.4% to 2.514 million.
The larger carryout followed a substantial increase in production. Canadian all wheat output reached 39.955 million tonnes in 2025, up from 35.939 million in 2024, an increase of just over 4 million.
Farm-held wheat inventories were higher across the major Prairie producing provinces.
Alberta farmers held 1.778 million tonnes of wheat as of July 31, up from 1.087 million a year earlier. Saskatchewan farm stocks increased to 500,000 tonnes from 446,000, while Manitoba farm inventories declined to 169,000 from 236,000.
The buildup in stocks came despite strong demand. Statistics Canada said wheat deliveries rose 9.6% year over year to 38.3 million tonnes as of July 31. Total wheat exports increased 1.5% to a record 29.7 million tonnes, underscoring the strength of offshore demand.
